The companies say the sharing of vehicle data will help to create new services that “improve driver safety and convenience” and, at the same time, it will also help car manufacturers monetise their data.

Set to launch in 2019, the platform will be based on blockchain technology and therefore will provide “data sovereignty, security, transparency, and efficiency to overcome the barriers of sharing vehicle data,” according to HPE.

Citing autonomous vehicles as a relevant example, HPE noting how data sharing across automotive brands is crucial if you want to provide driver-assistance services like real-time traffic warnings and locating available parking.

“Sharing vehicle data across vendors can solve some of the toughest traffic problems and improve driver experience by leveraging the power of swarm intelligence,” explained Phil Davis, President Hybrid IT, Chief Sales Officer, HPE.

“Together with Continental, we provide the key to unlock the value of this data treasure, not by taking control of the data ourselves, but by giving control to the drivers and car manufacturers.”

The data monetisation platform will allow car manufacturers and other partners to read data with each other however trading will require driver’s consent.

Therefore, the platform will include a consent management system providing a simple opt-in and opt-out system for drivers.

HPE and Continental say that they will provide additional services to facilitate data trading and data integration.

Digital solutions giant Accenture and insurance firm Generali have launched the first blockchain-based solution for the employee benefits (EB) industry to mitigate processing errors in the reinsurance process through smart contracts and automatic reconciliation.